Kingston Wharves Acquires 27% Stake in CHL  

• Kingston Wharves Limited (KW) announced on July 15, 2025, that it has acquired a 27.126% stake in Cargo Handlers Limited (CHL) as it continues its expansion into Western Jamaica. This now makes KW the second largest shareholder in the Montego Bay company, and CHL an associate company^[1] of KW.
• The acquisition was made for investment purposes as KW, in its press release, noted that Cargo Handlers Limited is well-positioned to both contribute to and benefit from important national trends, namely, the prospects for growth in logistics generally and for the ongoing development of Jamaica’s North Coast.
• That said, KW received an option to acquire additional shares, which, if exercised, would increase its ownership in the company by an additional 13%. The company noted that it will be evaluating opportunities for continued investment in CHL stock in line with its investment goals and the needs and prospects of CHL.
• However, it does not immediately intend to make any significant sales (or purchases) of stock units in CHL. As such, KW does not plan to seek control of CHL or to acquire a majority shareholding in the company.

(Source: JSE)

 

^[1] An associate company is a business where another company holds a significant but non-controlling stake, typically between 20% and 50% of the voting shares.